Asia Pacific Long-term Care Market Size & Outlook
Asia Pacific long-term care market, 2018-2030 (US$M)
Related Markets
Asia Pacific long-term care market highlights
- The Asia Pacific long-term care market generated a revenue of USD 195,088.3 million in 2023.
- The market is expected to grow at a CAGR of 7.7% from 2024 to 2030.
- In terms of segment, home healthcare was the largest revenue generating service in 2023.
- Hospice is the most lucrative service segment registering the fastest growth during the forecast period.
- Country-wise, China is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 195,088.3 million |
| Market revenue in 2030 | USD 327,234.6 million |
| Growth rate | 7.7% (CAGR from 2023 to 2030) |
| Largest segment | Home healthcare |
| Fastest growing segment | Hospice |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Home Healthcare, Hospice, Nursing Care, Assisted Living Facilities |
| Key market players worldwide | Brookdale Senior Living Inc, Knight Therapeutics Inc, Life Healthcare Group Holdings Ltd, Sunrise Medical, Extendicare Inc, Sonida Senior Living Inc, Genesis Healthcare Inc Class A, Amedisys Inc, Home Instead, Diversicare Healthcare Services, Atria Senior Living |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 17.5% of the global long-term care market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Latin America is the fastest growing regional market and is projected to reach USD 131,431.8 million by 2030.
Home healthcare was the largest segment with a revenue share of 30.95% in 2023. Horizon Databook has segmented the Asia Pacific long-term care market based on home healthcare, hospice, nursing care, assisted living facilities covering the revenue growth of each sub-segment from 2018 to 2030.
Countries such as India and China do not opt for formal care as they follow traditional approach of care. However, social & economic changes such as migration for employment and increased participation of women in workforce are increasing the burden of healthcare expenditure. This is expected to fuel the growth of the LTC market in APAC.
Long-term care is required to ensure proper care of elderly, especially in China, as the country’s demography is at a critical stage due to its one child policy. There are no definite government policies for reimbursement or payment of LTC in most countries in APAC. However, the household saving ratio is high.
This implies that people are well aware and are saving for their old age. High geriatric population affects the labor force in several countries, thereby adversely impacting the economy. However, a strong need for reforming the existing LTC system persists in these countries owing to the fact that these are the fastest-aging, middle-income countries.
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Long-Term Care Market Scope
Long-Term Care Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific long term care market size, by country, 2018-2030 (US$M)
Asia Pacific Long-Term Care Market Outlook Share, 2023 & 2030 (US$M)
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